How To Increase the Resale Value of Your Home With Home Additions
From increasing the amount of usable living space a home has to improving its layout, there are dozens of reasons homeowners choose to invest in home additions. However, one of the most common of those reasons is to increase the home’s resale value. If you’re hoping to boost the value of your home by adding on to it, you should know that not all additions are created equal. In fact, some additions can do more harm than good. To prevent that from happening, keep these four tips top of mind before getting to work.
1. Identify Areas for Improvement
If you’re hoping to add resale value to your home via an addition, chances are it’s because your home needs the updates. The question is, which areas of your home would best be served by said updates? Though every home is unique, additions that typically add the most value include kitchens, living rooms, bedrooms, bathrooms and mudrooms. Sunrooms also do fairly well, especially if it overlooks a stunning view.
2. Account for Permits
Permits aren’t necessary for minor structural changes, but if you plan on building an entirely new structure onto your home, or if you plan on drastically changing its existing layout, you may need the city’s permission. Always run your plans by the appropriate authoritative body before you break ground. If you build an addition without permission that you ultimately needed, you won’t be able to sell your home until you tear down the addition and rebuild it to the city’s specifications.
3. Plan Around Your Home’s Existing Layout
The point of an addition is to change your home’s layout, but that doesn’t mean it shouldn’t be consistent with its current style and structure. Any changes you make should mesh seamlessly with the existing layout and add to your home’s curb appeal, not detract from it.
4. Work With a Professional
Depending on the addition you’re planning, you may need to reconfigure your electrical, plumbing or framing. You may also need to lay an entirely new foundation. A professional can help you make these changes easily and ensure they’re up to code before you start framing anything in.
Home additions are one of the best ways to increase a home’s value. When designing yours, keep the above four points in mind.